Ford (NYSE:F) Garners a Bull in UBS (NYSE:UBS)

UBS (NYSE:UBS) is high on Ford (NYSE:F), which hasn't been trading at these price levels since 1992.

According to UBS, they believe Ford could generate earnings per share of $4 by 2013.

Expectations for 2010 are a little less ambitious, with earnings expected to reach $2.05.

There are a lot of assumptions and contingencies to Ford reaching that level by UBS, including selling an average of 16 million cars through that period at an annual rate. At this time they're selling 12 million a year.

Ford will also need to grow its market share to 18.5 percent to reach those figures, up from their current 16.5 percent share in the U.S.

Other things that would have to fall in place is increased financing, margins and earnings at Ford Credit, lowered interest costs, and the return to an investment-grade credit rating.

Last year at this time Ford was trading at around $9 a share. They closed Wednesday at $16.68, gaining $0.17, or 1.03 percent. UBS has a price target of $19 on the automaker at this time.